Last month we announced the release of our latest version of Lavante Recovery+. Plus because this release packs a lot of power into the recovery process, giving users tons of added value and benefits ranging from a new, intuitive user interface and on-demand interactive reporting dashboards to streamlined workflow processes.
Because the new features and functionalities were all based on feedback received from our customers as well as other AP and finance professionals, we are receiving strong reviews about the many benefits Recovery+ delivers. For example, one user from Arkansas Best Corporation (ABF) stated:
“I especially like Lavante’s redesigned application. The new design makes it easy to update claims and to keep track of how the audit is going. The graphical dashboard is particularly useful in getting a quick visual view of the overall audit numbers.”
The dashboard, shown below, is a key part of the new interactive interface, by providing a snapshot of how the recovery is performing – from root cause analysis to the total dollars recovered, across user-defined time periods. And, all of the date is presented in real-time, so results are always up-to-date. This makes it easy to manage the audit process, as well as report the status over time to others in the organization.
Here are a few areas we focused on with this new release:
- • End-to-End Visibility — for Complete Understanding & Accountability
Lavante Recovery+ delivers unprecedented visibility across the recovery program’s results and processes, enabling users clearly demonstrate to different audiences the multiple benefits delivered to the organization. We do this by tracking all transactions over time, making the results available through an array of interactive trend reports and dashboards, customizable to the needs of different groups and management levels within the organization. This flexibility makes it easy to prove the continuous value and benefits received over time. The results also enable users to identify problems with AP processes in a timely manner. Lavante’s built-in flexibility to configure recovery results, combined with click-through drill-down for full review of transactional details, means users can quickly identify problems and take corrective actions.
- • Real-time Interactivity — to Mange the Recovery Process
With Lavante, users have 24×7 access to always-current audit results and processes through the Lavante Recovery+ web portal. With the ability to interact directly with continuously-updated recovery results, users efficiently process and review claims in the same working environment as Lavante auditor. This unified enables a streamlined, interactive, and actionable workflow that speeds recovery results.
- • Multi-level Connections & Collaboration — Between All Suppliers and Clients
Connecting suppliers and clients is a critical part of a comprehensive recovery process, and at the core, Lavante’s Recovery+ facilitates this process — in real-time, through a unified web-based platform. With an automated outreach process, Lavante Recovery+ easily manages the massive volumes and extreme complexities involved with multiple outbound connections and inbound documents—across all business units and supplier locations, over time. Our technology-enabled recovery system means there are no theoretical limits to the number of suppliers or the volume of documents that can be processed for any one client. This process drives many significant benefits to the client and the suppler, including: data cleansing & enrichment of supplier information across all suppliers; the ability to recover dollars from the full range of suppliers, from the lowest to the highest spend levels; full communication and collaboration between suppliers, the client and the Lavante audit team. And, this is done in real time through one single portal.
- • All-inclusive Recovery Tracking — Past, Present & Future
True peace of mind only comes when you are assured that all recovery dollars, past, present and future, are covered. For a true safety net to be established, technology must be present that tracks transactions into the future. And Lavante Recovery+ excels at this critical function. With a database the tracks the millions of transactions from every document, (invoice, statement, etc), our system constantly compares current vs. past transactions, with proprietary software that quickly identifies possible credits — in real time — tracking these changes over time. This automation and the sophisticated technology that manages these potentially millions of transactions means our clients can be fully confident that credits are not falling through the cracks.
I’ll be back to provide specific examples of how Lavante Recovery+ operates in real organizations. In the meantime, please feel free to read more about it by visiting our website or call us at 1-888-LAVANTE to schedule a demo. We think you’ll like what you see.